商业银行通道业务转型风险分析

Risk Analysis of Channel Business Transformation in Commercial Banks

我国金融行业的发展可以被视为金融创新与金融监管互相博弈的螺旋式上升,其中以商业银行通道业务最为典型。目前银行业最关注两个问题:一是针对优先级、回购条款等增信措施,司法和监管的立场存在博弈;二是"资管新规"出台后银行通道业务的转型遭遇诸多困难和风险。金融创新势不可挡,新的利润增长点将集中在银行理财子公司、资产证券化等方向。对过去的反思能够为未来行业发展和监管改革提供思路,通道业务的顺利转型将会为其他形式的"金融创新"提供成功模板。

The development of China’s financial industry can be seen as a spiral rise characterized by the interaction between financial innovations and financial supervision, among which the channel business of commercial banks is the most typical. At present, the banking industry is most concerned about two issues: firstly, the interaction between judicial and regulatory authorities concerning credit enhancement measures such as tranches and repurchase clauses;secondly, the transformation of banking channel business has encountered many difficulties and risks after the introduction of the "New Regulations on Asset Management". Financial innovations are irresistible and bank financing subsidiary, asset securitization and the like will become the new profit growth points. Reflection on the past can provide ideas for future industry development and regulatory reform. The smooth transformation of channel business will provide a successful template for other "innovations".